Boomer Bin: 7 Ways to Make Money From Your Parents' Stuff

As baby boomers retire and downsize, their children are often left with the task of dealing with their parents' belongings. While some of these items may have sentimental value, others may be worth selling for a profit.

According to a study by the National Association of Realtors, the average American home contains over $10,000 worth of unused items. For boomers, this number is likely even higher, as they have accumulated decades of possessions.

If you're not sure what to do with your parents' unwanted stuff, here are seven ways to make money from it:

1. Sell it online. There are a number of websites and apps that allow you to sell used items online, such as eBay, Craigslist, and Facebook Marketplace. When selling items online, be sure to take clear photos and write detailed descriptions. You should also research comparable items to get an idea of what to price your items at.
2. Have a garage sale. A garage sale is a great way to get rid of a lot of items at once. To have a successful garage sale, be sure to advertise it well and price your items fairly. You should also be prepared to haggle with customers.
3. Donate it to charity. If you don't want to sell your parents' stuff, you can always donate it to charity. Many charities will accept used items, such as clothing, furniture, and household goods. Donating to charity is a great way to help others and get a tax break.
4. Rent it out. If you have a lot of space, you can rent out some of your parents' belongings. For example, you could rent out their spare bedroom, their basement, or their attic. Renting out space can be a great way to generate passive income.
5. Use it for yourself. If you need any of your parents' belongings, don't be afraid to use them. For example, you could use their old furniture to furnish your own home or their old clothes to clothe your children. Using your parents' belongings is a great way to save money and keep their memory alive.
6. Store it. If you don't have the space to store your parents' belongings, you can always rent a storage unit. This is a good option if you're not sure what you want to do with their stuff yet or if you need to keep it for a short period of time.
7. Sell it to a consignment shop. Consignment shops sell used items on behalf of their owners. This is a good option if you don't want to deal with the hassle of selling your parents' stuff yourself. However, you should be aware that consignment shops typically take a commission on sales.

No matter what you decide to do with your parents' unwanted stuff, be sure to do your research and make informed decisions. By following the tips above, you can make the most of their belongings and put extra money in your pocket.